Fife furniture and fit out specialist Deanestor has announced a record order intake of around £24 million in the last six months.
The business now expects to post its highest ever turnover in 2023. It is projected to rise to £22m – an increase of £2.8m on last year.
Since the start of 2022, production volumes have continued to rise steadily as Deanestor’s factories returned to pre-pandemic levels of sales and profit.
Turnover in 2022 increased sharply by 35% to £19.2m in comparison with 2021.
The record intake is for fit-out projects for both new and long-standing repeat clients and contractors.
The work is across a range of markets, from build-to-rent and student living and healthcare to education.
Deanestor’s Scottish business recently won a £5m contract to manufacture furniture and fitout two high schools on the Dunfermline Learning Campus.
Highest-ever order intake for Fife firm
Ramsay McDonald, managing director of Deanestor in Scotland, said: “Towards the end of 2022 and at the start of this year, Deanestor saw its highest ever order intake.
“Confidence has definitely returned.
“Build-to-rent is extremely buoyant across the UK, and the student living and education sectors remain strong.
“We’re also seeing an increase in the size of our projects for residential schemes as well as a trend for taller buildings to deliver more homes for rent.”
Last year Deanestor was awarded a £3.1m contract to manufacture and install bespoke kitchens and wardrobes in Glasgow.
The Dunfermline business also won a £1.8m deal to fit out a multi-school campus in West Lothian.
Cost challenges have eased
Mr McDonald said the record quote book was a “very positive economic indicator” for the business.
He said challenges the firm faced during the Covid pandemic, such as labour and material costs, have now eased.
“With such a strong order pipeline, we expect our growth to continue for the next 24 months and beyond.”
Conversation